Shares of Tactile Systems Technology Inc (NASDAQ:TCMD) reached a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $21.20 and last traded at $18.74, with a volume of 81,974 shares changing hands. The stock had previously closed at $19.52.
Specifically, Director Peter H. Soderberg acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average price of $10.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $50,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Nigon acquired 18,750 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was purchased at an average cost of $16.87 per share, with a total value of $316,312.50. Following the purchase, the director now owns 8,322 shares of the company’s stock, valued at $140,392.14. The disclosure for this purchase can be found here.
Several analysts have issued reports on the stock. Canaccord Genuity assumed coverage on shares of Tactile Systems Technology in a research note on Thursday, August 25th. They issued a “buy” rating and a $21.00 price objective for the company. BTIG Research assumed coverage on shares of Tactile Systems Technology in a research note on Monday, August 22nd. They issued a “buy” rating and a $18.00 price objective for the company. William Blair started coverage on shares of Tactile Systems Technology in a research note on Monday, August 22nd. They issued an “outperform” rating for the company. Finally, Piper Jaffray Cos. started coverage on shares of Tactile Systems Technology in a research note on Monday, August 22nd. They set an “overweight” rating and a $17.00 price target for the company.
The firm’s 50 day moving average is $14.83 and its 200-day moving average is $14.56. The company has a market capitalization of $322.86 million and a PE ratio of 310.48.
About Tactile Systems Technology
Tactile Systems Technology, Inc is a medical technology company. The Company develops and provides medical devices for the treatment of chronic diseases at home. The Company focuses on advancing the standard of care in treating chronic diseases in the home setting to improve patient outcomes and quality of life and help control rising healthcare expenditures.
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